A car salesperson wants to develop a method to predict the resale value of trucks based on the age of the truck.age of car Resale ValueO35000132000231250329000432350S2500062600072300082200091900010215001120000Use the data provided and excel to calculate the correlation coefficient. (Round your answer to 4 decimal places).

Given data:03500013200023125032900043235052500062600072300082200091900010215001120000 Using excel to…

Answered: A car salesperson wants to develop a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims. x 3 7 15 32 75 y 40 35 30 26 18 (a) Make a scatter diagram of the data and visualize the line you think best fits the data. Flash Player version 10 or higher is required for this question. You can get Flash Player free from Adobe's website. (b) Would you say the correlation is low, moderate, or strong? positive or negative? strong and negative moderate and negative strong and positive low and negative low and positive moderate and positive (c) Use a calculator to verify that Σx = 132, Σx2 = 6932, Σy = 149, Σy2 = 4725, and Σxy = 2997. Compute r. (Round your answer to three decimal places.)r = As x increases, does the value of r imply that y should tend to increase or decrease? Explain. Given our value of r, we cannot draw any conclusions for the behavior of y as x increases. Given our value of r, y should tend to…
The numbers of pass attempts and passing yards for seven professional quarterback for a recent year are listed in the table below. Round all answers to the nearest 1000th. Pass attempts (x) 449 565 528 197 670 351 218 Passing Yards (y) 3265 4018 3669 1141 5177 2362 1737 Calculate the sample correlation coefficient, r. Describe the type of correlation coefficient and interpret the correlation in the context of the data. Find the equation of the regression line for the data. Use the regression equation to predict the average number passing yards if the pass attempts are 250.
The data below is 12 observations of Math SAT scores (x) and scores on Math placement test (y). Calculate the linear correlation coefficient, rr. Enter your answers to two decimal places. X Y 420 426 410 360 600 575 460 538 550 553 480 407 560 635 450 388 400 383 430 402 470 462 440 437 rr =
A random sample of college students was surveyed about how they spend their time each week. The scatterplot below displays the relationship between the number of hours each student typically works per week at a part- or full-time job and the number of hours of television each student typically watches per week. The correlation between these variables is r = –0.63, and the equation we would use to predict hours spent watching TV based on hours spent working is as follows: Predicted hours spent watching TV = 17.21 – 0.23(hours spent working) Since we are using hours spent working to help us predict hours spent watching TV, we’d call hours spent working a(n) __________________ variable and hours spent watching TV a(n) __________________ variable. The correlation coefficient, along with what we see in the scatterplot, tells us that the relationship between the variables has a direction that is _________________ and a strength that is ______________________. According to the…
What is the coefficient of correlation given this data: X = 61, 62, 95, 71, 49 Y = 32, 47, 107, 77, 41 Please format to 2 decimal places.
You generate a scatter plot using Excel. You then have Excel plot the trend line and report the equation and the r2r2 value. The regression equation is reported asy=60.71x+33.51y=60.71x+33.51and the r2=0.1764r2=0.1764.What is the correlation coefficient for this data set?r =
Please round all answers to 2 decimal places.Given the table below, use your calculator to find the Correlation Coefficient xx 2.6 9.1 8.3 7.9 2.9 4.9 yy 6.2 22.9 24.2 20.1 6.1 15.8 Put your answer here:
Determine if correlation between the two given variables is likely to be positive or negative, or if they are not likely to display a linear relationship. Your daily calorie intake and weight. (a) Positive (b) Negative (c) No correlation
Recently, the stock market took big swings up and down. A survey of 969 adult investors asked how often they tracked their portfolio. The table shows the investor responses. What is the probability that an adult investor tracks his or her portfolio weekly? Express your answer as a simplified fraction and as a decimal rounded to three decimal places. How frequently? Response Daily O 231 269 274 Couple times a year 143 Don't track 52 Weekly Monthly 274 969 231 969 269 969 143 969 ;0.283 ;0.238 ;0.278 ;0.148
Please explain each step clearly, and no excel formula should be used for solving this problem
The data in the table is the number of absences for 7 students and their corresponding grade. Number of Absences Grade0 5.51 52 4.53 3.55 37 2.58 2 Step 1 of 3: Calculate the correlation coefficient, r. Round your answer to six decimal places.

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